[Practical Finance] Flood of Childbirth Benefits from Banks... Products Expectant Moms Should Watch

As the government takes measures to address the low birthrate crisis, financial institutions are rolling out a series of products that offer benefits for pregnancy, childbirth, and multi-child families. In particular, with the representative deposit interest rates of major commercial banks falling below the base rate, high-interest savings and installment savings products are attracting the attention of expectant mothers preparing for childbirth.

Sh수협 Bank launched the 'Agaya Hwan-yeong-hae (海) Savings' this month to support overcoming the low birthrate, offering an annual interest rate of up to 8%. This savings product provides a basic interest rate of 3% per year, and if preferential interest rate conditions (pregnancy, childbirth, multi-child, etc.) are met, it offers up to 8% per year. The subscription period is up to one year, with flexible monthly deposits ranging from 10,000 KRW to 200,000 KRW.

Hana Bank's 'Hana I-Kium Savings' also offers up to 8% annual interest by applying preferential rates for pregnant women. The basic interest rate is 2% per year, with an additional 2 percentage points for pregnant women or childcare allowance recipients, 1 percentage point for two children, and 2 percentage points for three children. Additionally, a 1 percentage point bonus is given for the Child Future Guardian Pledge, and up to 1 percentage point preferential interest rate is applied based on Hana Bank's performance.

BNK Busan Bank is also selling the 'BNK Baby Angel Savings,' which offers preferential interest rates for childbirth and multi-child families, with a maximum annual interest rate of 8%. The basic interest rate is 2%, with preferential rates applied during the subscription period: 4.5 percentage points for the first child, 5 percentage points for the second child, and 5.5 percentage points for the third child or more. Additionally, up to 0.5 percentage points preferential interest rate is applied based on Busan Bank's performance. The subscription period can be chosen between 12 or 24 months, and the monthly deposit amount ranges from 10,000 KRW to a maximum of 300,000 KRW.

Among internet banks, Toss Bank's 'Child Savings' offers up to 5.5% interest. The basic interest rate is 3% per year, with an additional 2.5 percentage points preferential interest rate applied if all automatic transfer savings are successfully completed. Guardians can open accounts for children aged 0 to 15, with a maximum monthly deposit of 200,000 KRW for up to 12 months.

In addition, in the secondary financial sector, Saemaeul Geumgo's 'Yongyong Savings' has gained popularity among expectant mothers, surpassing 20,000 subscribers within three months of its launch. Yongyong Savings is a one-year fixed installment savings product with a basic interest rate of 10%. It offers 11% interest for the second child and 12% for the third child or more. Eligible subscribers are those with children born from December 2023 to 2024, with a subscription limit of 50,000 KRW to 200,000 KRW per month. In regions with declining populations, a 12% interest rate is provided regardless of the number of children.

This content was produced with the assistance of AI translation services.